Bitbank
History and General Information
Established in 2016, Bitbank stands as one of the leading cryptocurrency exchanges in Japan. From its inception, the exchange has been focused on delivering high-quality cryptocurrency trading services, particularly involving Bitcoin and Litecoin, against the Japanese Yen (JPY). The Bitbank website and mobile application are notable for their high-quality design and user-friendly interface, reflecting the company's commitment to providing an excellent user experience.
Fees
One distinctive feature of Bitbank is its unique fee structure. The fee for makers is -0.02%, essentially rewarding them for providing liquidity to the platform. Takers pay a 0.12% fee, which is significantly below market averages. Additionally, Bitbank does not charge deposit fees, whether in Japanese Yen or cryptocurrencies, but it does set minimum amounts for deposits and withdrawals.
Mobile Application and Platform
The Bitbank mobile application is available for both iOS and Android devices, offering a full range of features found on the main trading platform. The app stands out for its high functionality and user-friendly interface, enabling traders to manage their transactions and portfolios on the go.
The Bitbank trading platform is developed using web technologies and is fully compatible with various devices. It incorporates TradingView tools for technical analysis, providing over 50 technical indicators and numerous instruments for analysis.
Security and Compliance
Bitbank ensures robust security for its users through measures such as two-factor authentication, SSL encryption for server information, and a combination of cold and hot wallets for asset storage. The exchange is regulated by the Japanese Financial Services Agency (JFSA), adding a layer of trust and reliability.
Customer Support and Educational Resources
Bitbank provides customer support through an electronic ticket system, available 24/7. Additionally, the exchange's website hosts a help center where users can find answers to frequently asked questions. However, based on user reviews, the level of customer support is assessed as average.
Bitbank also offers educational materials, although they may be somewhat limited compared to some other exchanges. It includes webinars, educational guides, articles, and podcasts aimed at helping new traders minimize risks in trading.
Features and Limitations
Bitbank offers specialized exchange services, focusing on Bitcoin and Litecoin, and supports exclusively the Japanese Yen as the fiat currency. It can be a limiting factor for traders outside of Japan. It is worth noting that Bitbank attracts traders with its unique fee structure and high level of security.
Conclusion
Bitbank stands as a reliable and appealing platform for cryptocurrency trading, particularly for users in Japan. The exchange stands out of the crowd with its competitive fee structure, advanced technologies, a high level of security, and compliance with the JFSA. However, the limited selection of cryptocurrencies and support only for the Japanese Yen may be deterring factors for users from other countries.
Director, CEO, and Founder